Hi guys could I suggest that we start a designated charting & TA thread for discussion on this subject only. While some dont understand TA, and we have many strong views on what form of charting is the best, and how to interpret it .... the input from chartists and various TA observations are valuable and welcome. However, shooting down the messenger isnt ... so respect and appreciative responses to chartist's efforts will be appreciated by all, I am sure.
Just some basic Candlestick observations:
MUS had a solid, fast rise from the low 2's
Then a period of rest & consolidation as highlighted by the red square
Then you can see the indecisive doji-type bars in the green circle - symptoms of indecision and a bullish/bearish tug of war on lowering volume.
Fridays huge engulfing bar on high volume is a most bullish signal! Wipes out, and blast through, all the previous 10 days of consolidation & indecision!
Next target before consolidating is 10 cents
That's my 10 cents worth!
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